This paper examines the reaction of long- and short-term interest rates to monetary polic y surprises that influenced market expectations of the future behavio r of the Federal Funds rate in the period after October 1979. The aut hors find that the relative reaction of long- and short-term rates t o policy surprises is similar to the relative reaction of these rates to money announcements. Consequently, they conclude that the large r eaction of long-term interest rates to money announcements in the per iod after October 1979 is consistent with the "policy anticipations hypothesis," which views this reaction as a movement in real intere st rates. Copyright 1987 by Oxford University Press.
Download Info
To our knowledge, this item is not available for
download. To find whether it is available, there are three
options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page
whether it is in fact available.
3. Perform a search for a similarly titled item that would be
available.
Publisher Info
Article provided by Oxford University Press in its journal Economic Inquiry.
Contact details of provider: Postal: Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK Fax: 01865 267 985 Email: Web page: http://ei.oupjournals.org/
For technical questions regarding this item, or to correct its listing, contact: (Christopher F. Baum).
Related research
Keywords:
Other versions of this item:
Cited by: (explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)